US equity indexes mostly closed on a positive note, sp +17pts (0.5%) at 3401. Nasdaq comp’ +1.2%. Dow u/c. The Transports settled +0.8%.
sp’60min
Summary
closing hour action: choppy, but continuing to lean weak, and breaking a new intraday low of 3389. The final minutes saw a minor bounce. At the current rate, s/t momentum will turn negative Wed’ 11am.
*awaiting earnings from ADBE and FDX
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… and that concludes Tuesday. It was a day for the bulls, if seeing some late afternoon cooling. The s/t cyclical setup leans to the bears… ahead of the fed.
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notable stock: XOM
It was not entirely surprising, was seeing Exxon turn red this afternoon… lower for the 21st day of 24. Bearish engulfing candle… leans s/t bearish.
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notable stock: C
A second very rough day… with background chatter of possible dividend cuts. Tomorrow’s FOMC won’t likely help.
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notable hysteria: TSLA
Tesla still managed to hold crazy gains. Incredible.
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Have a good evening
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more later on the VIX and Indexes by 6pm EST